When is someone irrational?
I like reading books about mistakes people commonly make: logical fallacies, bad mental shortcuts, tricks that advertisers use, and so forth. It is obvious that our minds are not perfectly logical, and I like to be aware of my illogical inclinations so I can prepare for them. Economists, psychologists, and mathematicians are among the people who write books on this sort of thing. The economic angle gets a lot of attention these days because of the work of Daniel Kahneman, Nobel-prize winning economist who studied ways that people behave irrationally, allegedly contrary to economic principles. I say "allegedly" because I believe that consumers are not expected to behave rationally according to an absolute standard of maximizing utility, because consumers define utility by their choices. If I buy a cheap product that falls apart in a year rather than a somewhat more expensive product that will last for ten years, it may appear irrational to a neutral obser...